159 Countries set to use BRICS SWIFT replacement

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Amid the alliance’s continued efforts to create a SWIFT alternative, the economic alliance has sought to create its very own BRICS payment system. It will play a major role in the alliance trade dealings. Specifically, allowing unilateral settlement to be done without the need for the US dollar.

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The move is poised to be vital for the bloc and participating nations, and it appears there will be a lot of them. According to one Russian BBC official, there are already 159 countries seeking to adopt the system currently. With a potential launch coming in October, it could have massive global market ramifications.

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Sources:

watcher.guru/news/159-countries-set-to-adopt-brics-new-payment-system?c=515

dinarrecaps.com/our-blog/159-countries-set-to-adopt-brics-new-payment-system

ground.news/article/brics-159-countries-eyeing-russias-new-payment-system


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